Newsweek Magazine July 04, 2025 Issue
Kananaskis, Alberta: Canada's Prime Minister Mark Carney addresses guests on June 17 during the Group of Seven Summit in Alberta. He vowed 'total solidarity with Ukraine' to its leader Volodymyr Zelensky (right). They were joined by, from left, France's Emmanuel Macron, European Commission head Ursula von der Leyen, NATO chief Mark Rutte, Japan's Shigeru Ishiba, Germany's Friedrich Merz and U.S. Treasury Secretary Scott Bessent.
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New York Times
2 minutes ago
- New York Times
E.U. Cuts Aid to Ukraine Over Corruption Concerns
President Volodymyr Zelensky's anticorruption policies have already provoked Ukraine's first antigovernment protests since the Russian invasion in 2022. Now, it seems, they may cost the country a portion of its foreign aid from the European Union, in a clear rebuke from the bloc, once a staunch ally. The European Union said on Friday that it would withhold 1.5 billion euros, or $1.7 billion, from an overall fund of 4.5 billion euros whose disbursement is dependent on achieving good governance standards and that can't be used for military purchases. The decision is not final, however, and the funding can be restored if Ukraine meets certain benchmarks. Mr. Zelensky had no public comment on the aid cut, which nevertheless was a setback for Ukraine's leader, who is depending on European financial support to fill gaps left by the Trump administration's refusal to underwrite Ukraine's war effort. While holding back Western aid to spur reform was common before Russia's invasion, Friday's decision seemed to signal a new willingness by the bloc to admonish Mr. Zelensky's government on domestic policy during the war. It also raised questions about whether the glow around Mr. Zelensky might be beginning to dim among Ukraine's Western allies. James Wasserstrom, an American anticorruption expert, said in an interview that 'the luster is definitely coming off' Mr. Zelensky's wartime leadership among governments providing financial assistance. He added, 'There is exasperation at Zelensky in the donor community.' The E.U.'s decision capped a tumultuous week for Mr. Zelensky, who first pushed a measure through Parliament that stripped the independence of two anticorruption agencies, raising protests from foreign leaders as well as the Ukrainian people. Want all of The Times? Subscribe.
Yahoo
an hour ago
- Yahoo
EU chief von der Leyen heads to Scotland for trade talks with Trump
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Yahoo
2 hours ago
- Yahoo
EU chief von der Leyen heads to Scotland for trade talks with Trump
By Andrew Gray and Andrea Shalal BRUSSELS/EDINBURGH (Reuters) -EU Commission President Ursula von der Leyen headed to Scotland on Saturday ahead of a meeting with U.S. President Donald Trump on Sunday afternoon, commission spokespeople said, as EU officials said the two sides were nearing a trade agreement. Trump, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that he was looking forward to meeting with von der Leyen, calling her a "highly respected" leader. He repeated his view that there was a 50-50 chance that the U.S. and the 27-member European Union could reach a framework trade pact, adding that Brussels wanted to "make a deal very badly". If it happened, he said it would be the biggest trade agreement reached yet by his administration, surpassing the $550 billion accord agreed with Japan earlier this week. The White House has released no details about the planned meeting or the terms of the emerging agreement. The European Commission on Thursday said a negotiated trade solution with the United States was within reach, even as EU members voted to approve counter-tariffs on 93 billion euros ($109 billion) of U.S. goods in case the talks collapse. To get a deal, Trump said the EU would have to "buy down" that tariff rate, although he gave no specifics. EU diplomats say a possible deal between Washington and Brussels would likely include a broad 15% tariff on EU goods imported into the U.S., mirroring the U.S.-Japan deal, along with a 50% tariff on European steel and aluminum. The broad tariff rate would be half the 30% duties that Trump has threatened to slap on EU goods from August 1. It remains unclear if Washington will agree to exempt the EU from sectoral tariffs on automobiles, pharmaceuticals and other goods that have already been announced or are pending. Combining goods, services and investment, the EU and the United States are each other's largest trading partners by far. The American Chamber of Commerce in Brussels warned in March that any conflict jeopardized $9.5 trillion of business in the world's most important commercial relationship. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data